Capital One Savor Denied

[pannna]

I too got a rejection recently 😕 for Savor.
Savor seems like a good card
Didn't know of this rule, otherwise would not have had applied.
Seems like there is no use of calling or emailing EO 😕

[UncleB]

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@pannna wrote:

I too got a rejection recently 😕 for Savor.
Savor seems like a good card
Didn't know of this rule, otherwise would not have had applied.
Seems like there is no use of calling or emailing EO 😕

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Hi @pannna, I've moved your post to a new thread since the other one was older and some of the info might be outdated.

Capital One can be a tough nut to crack these days... definitely not like they were just a few years ago.

While some people have speculated that they may have a 5/24 rule (similar to Chase) we don't know for sure.  I did see my own prequal offers return once I was under 5/24 but I don't know if that was the cause or just coincidence.  There aren't enough data points yet.

As for the EO, you're right; unless there was a glitch during the application process they aren't known to override automated approval/denial decisions.

[Anonymous]

Not sure if there is a 5/24 rule because I am at 8/24 or 9/24 and just got a savor for 15k SL

[Anonymous]

I don't think they have a 5/24 rule, I had my sixth credit card with Capital One and got approved (Though it was a Journey) and then PC to the Quicksilver, I also have a cousin that she got her eight card with them in less than 24 months

[kdm31091]

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@Anonymous wrote:
I don't think they have a 5/24 rule, I had my sixth credit card with Capital One and got approved (Though it was a Journey) and then PC to the Quicksilver, I also have a cousin that she got her eight card with them in less than 24 months

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They do seem to have a 5/24 type of rule in place for cards like the Savor. It is unknown the exact number of x/24 but you will see very, very few people get approved (for Savor, at least) with being much above 5/24 if at all. They have definitely locked out a lot of people, whatever their exact rule is.

[FinStar]

I'm not sure there's a 'rule' per se. It's driven by an algorithm logic that will disqualify some but not others depending on whatever internal criterion is in place and fluctuates pretty frequently.

I was approved for Savor last year with a slew of new accounts and inquiries and since they tend to pull all 3 CRAs I'm certain they would've denied the application if such a 'rule' was in place.

For a variety of declined applications, they will cite the excessive number of accounts (or inquiries) in a 12 or 24 month period, but it's not a declined outcome for everyone. They have adaptive AI and algorithms that clearly know what drives their revenue stream and mitigate potential losses versus previous statistical UW models.

[Anonymous]

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@UncleB wrote:

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... While some people have speculated that they may have a 5/24 rule (similar to Chase) we don't know for sure.  I did see my own prequal offers return once I was under 5/24 but I don't know if that was the cause or just coincidence.  There aren't enough data points yet.

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Adding a DP: approved for Savor yesterday with 10/24 bank cards and 7/24 retail cards, and about 35 Inq across the 3 CRA.

[kdm31091]

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@FinStar wrote:
I'm not sure there's a 'rule' per se. It's driven by an algorithm logic that will disqualify some but not others depending on whatever internal criterion is in place and fluctuates pretty frequently.

I was approved for Savor last year with a slew of new accounts and inquiries and since they tend to pull all 3 CRAs I'm certain they would've denied the application if such a 'rule' was in place.

For a variety of declined applications, they will cite the excessive number of accounts (or inquiries) in a 12 or 24 month period, but it's not a declined outcome for everyone. They have adaptive AI and algorithms that clearly know what drives their revenue stream and mitigate potential losses versus previous statistical UW models.

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It's certainly not set in stone like Chase 5/24, but more often than not I've seen denials for the Savor card from anyone who has multiple new accounts. The reddit thread when Savor was first released (well, refreshed) was a slew of denied applications. Same for the DoC thread. They may not have a hard and fast x/24 rule, but they definitely have strict underwriting in place.

[Anonymous]

Am I missing something here, or was there something omitted from the original post?  Everyone is talking about a x/24 or similar rule with CO, yet I see no mention in the original post of anything along these lines from the OP?

[Anonymous]

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@Anonymous wrote:

Am I missing something here, or was there something omitted from the original post?  Everyone is talking about a x/24 or similar rule with CO, yet I see no mention in the original post of anything along these lines from the OP?

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Yeah, this thread was spun off from another one.